US data paints rosy picture of the economy – ANZ

By FXStreet FXStreet (Delhi) – Research Team at ANZ, suggests that yesterday’s release of US data suggests that the economy is progressing on the right path of growth.

Key Quotes

“The US non-manufacturing ISM eased in December to 55.3 versus 55.9 in November. The detail was better, with the new orders, employment and business activity indices all increasing. US services sector activity remains quite good.

The US trade deficit shrank in November to USD42.4bn from USD44.5bn, led by a 1.7% m/m drop in imports. Exports fell 0.9% m/m.

ADP employment rose 257k in December after +211k in November. That hints at a strong payrolls report this Friday (mkt: +200k) and comes alongside last night’s solid non-manufacturing ISM employment index.”
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Source:: FX Street